By Brian Skeele, on June 7th, 2011
New Mexico Business Weekly
Date: Thursday, June 2, 2011, 1:21pm MDT
Why wait for the burbs to come back??!! Go Sustainable Urban Village!
IMHO the housing construction industry isn’t coming back, until we invent deeply sustainable lifestyles in “Mixed use, mixed income neighborhoods, with convenient lifelong learning and open space”…and that is going to require community collaborations on many levels; identifying and designing to the market demand, integrated systems (water, energy, food, transportation, shared amenities, etc).
this was my response to the following news item.
New Mexico Business Weekly Freddie Mac: Mortgage rates still falling
New Mexico Business Weekly Long-term mortgages rates moved lower for the seventh consecutive week this week, amid continuing weak economic and housing data.A 30-year fixed-rate mortgage averaged 4.55 percent in the week ending June 2, down from 4.6 percent last week. A 15-year fix fell to 3.74 percent, down from 3.78 percent.
A one-year adjustable-rate mortgage averaged 3.13 percent, up from 3.11 percent last week. In New Mexico, a 15-year fixed rate is 3.75 percent, while a 30-year fixed-rate is 4.5 percent, according to MortgageLoan.com.
“Fixed rate mortgage rates followed Treasury yields lower this week amid financial market concerns that the current lull in the economy is continuing,” said Freddie Mac (OTC BB: FMCC) Chief Economist Frank Nothaft.
The housing market is showing new strain, with the S&P/Case-Shiller housing price report this week saying prices in the nation’s 20 largest cities last quarter were down an average 5.1 percent, the biggest yearly decline since the third quarter of 2009.
Jeff Clabaugh of the Washington Business Journal, an affiliated publication, compiled this report.
New Mexico Business Weekly
Image courtesy of LA Times…